Your intelligent source for municipal finance information

Month February 2010

Flint, Michigan and the bankruptcy discussion

Here is an interesting clip from MLive about the debate over Flint’s dire finances.   Michigan has a receivership program that has been used a number of times so municipalities cannot just file bankruptcy in federal court without going through the… Continue Reading →

troubles in toledo

Looks like the city is making its best effort to try to resolve budget imbalance.  Ohio is one of the states that has a strong oversight/receivership program and municipalities may not file bankruptcy without approval of the state.  Local governments… Continue Reading →

Municipal Bankruptcy

Here’s a clip from the California League of Cities concerning AB 155.  AB155 (and its parallel, SB88) briefly, would prevent California cities from filing bankruptcy without going through the state — California Debt Investment Advisory Commission (CDIAC).  Numerous other states have… Continue Reading →

Harrisburg

Here’s a good, local clip about the Harrisburg bond/incinerator problem:

Rethinking Municipal Guarantees, “look-throughs” and Ratings

Harrisburg, Pennsylvania can’t really afford to pay for the Resource Recovery bonds that it guaranteed.  Their recently adopted 2010 budget does not include debt service for this guarantee (see prior post with link).  It is accepted practice for rating agencies… Continue Reading →

Transportation Shortfalls

This link from a recent release by the Brookings Institution, Robert Puentes comments on the New Jersey and Virgina transportation funds.  New Jersey’ transportation trust fund will be spending all of its revenues on debt service by 2011; Virginia’s new… Continue Reading →

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